The FINANCIAL — The President of the European Investment Bank (EIB), Werner Hoyer stated that EIB is stepping up its lending activities significantly for the 2013 to 2015 period in order to support growth and jobs in Europe, according to European Investment Bank.
He underlined that fighting youth unemployment is a key priority for the EIB and that the Bank is working on new tailor-made financial products that will incentivise companies to recruit young people and put them in vocational training schemes, according to European Investment Bank.
President Hoyer also made it clear that the EIB is not a panacea. Instead, Europe needs a concerted approach of all relevant EU institutions, the Member States and the private sector. Initiatives such as the conference in Paris and the planned job summit by the German chancellor Angela Merkel, scheduled for early July, are important steps to reach a joint and efficient European response, according to European Investment Bank.
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